Immerse yourself in the digital world of the Metaverse and take advantage of its abundant marketing possibilities.
The Metaverse. What started as a virtual gaming space quickly became a shared virtual space for businesses and artists. Today, people can shop, sell, buy, trade, and even do product placements in games and other installations. In addition, people and companies are adopting more tech solutions and digital experiences to communicate and market their products and services.
Adopting the metaverse in your marketing strategy is crucial for getting ahead, staying relevant, and opening up a world of options regarding your advertising and brand awareness. To break into this new world, start by understanding your customer’s preferences, creating clear targets, and then creating a strategy to have a quick ROI.
According to Acceleration Economy, “to get a real sense of what’s happening, let’s take a quick look at the metaverse trends and a few of the first-movers’ learnings: Vans built a virtual skatepark via Roblox, generating up to 48 million users per day. In addition, Nike recently purchased the RTFKT agency to accelerate its ability to create non-fungible tokens (NFTs) for digital collectibles. Another example of metaverse acceleration is Gucci’s creation of the Gucci Garden. This metaverse-powered virtual world allows your avatar to move from room to room, exhibit to exhibit, changing and experiencing apparel in different colors and styles.”
What is the Metaverse?
The metaverse might have started as a sci-fi-sounding idea, but now it is becoming more digitally concrete. According to the author of Metaverse Primer, Matthew Ball, the metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support the continuity of identity, objects, history, payments, and entitlements. Moreover, it can be experienced synchronously by an unlimited number of users, each with a unique sense of presence.
On the other hand, the leader of the metaverse, Facebook, states that the metaverse can be described as a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.
Why businesses are using the metaverse
Huge brands like Nike, Taco Bell, Gucci, and Disney, have all jumped on the bandwagon of using new technologies and opportunities found in the metaverse to enhance their marketing. These tech and opportunities include advertising, product placement, digital shops where you can buy art, one-of-a-kind content or items, and creating a more personalized experience for people.
Likewise, the gaming industry uses games like Roblox and others for advertising and selling merchandise. These games and platforms give brands new untenable opportunities to make fast connections, gain support from growing environments, keep up with Millenials and GenX, and enhance brand engagement.
The Digital Business Lab states, “In 2021, brands globally experimented with virtual and augmented marketing campaigns, from digital clothes, concerts, showrooms, and collectibles. Big brands like Walmart, Nike, Disney, Microsoft, and Facebook are creating virtual communities, content, assets, fashion, art, experiences, and worlds. Our physical world and virtual realms may co-exist within a new economy, environment, currency, and behaviors.”
Opportunities in the Metaverse
There are so many reasons to dip your toes in the metaverse! Whether you are a business, artist, or organization, it positions everyone for success.
Here are five ways you can grow your brand through the metaverse:
- Advertising comes in countless ways, including inexpensive and creative KPI usage.
- Branded avatars might sound like a wild concept; however, your brand can create virtual gear and apparel for advertising and monetization.
- Build your services, marketing campaigns, and infrastructure to create an immersive journey for your clients and customers.
- NFTs and virtual goods are becoming more crucial, financially significant, and a way of making and transferring goods.
- Virtual events are the place to be!
Embracing this new technology
Clearly, the future lies in the metaverse, as people all around the world are already investing in and buying plots, in addition to typical campaigns and product placements. It may seem like a strange new world, with new metrics, tracking, and engagement ways such as KPIs, so of course, expect a learning curve and a considerable adjustment period. Start by thinking about how to embrace your creativity and storytelling to create a beautiful multi-dimensional world, campaign, or ad. There is no limit to what you can do in the metaverse, so dream big with your marketing campaigns.
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*This blog post was written by Amanda Rezende, Marketing Advisor at DuartePino.